齐鲁晚报·齐鲁壹点 张雪 2025年4月，中国汽车市场迎来历史性转折——新能源乘用车零售渗透率首次突破51%，标志着燃油车 与新能源车市场份额正式进入"五五开"新纪元。据乘联会数据，在五一假期前购车需求的释放下，环比 3月销量普遍增长10%-15%，为4月的高渗透率提供了有力支撑。4月上半月新能源车零售渗透率达 50.39%，这一数字较原定2035年目标提前11年达成。 对比2020年5.8%的渗透率，短短五年间新能源车实现近十倍增长。这一里程碑时刻的背后，是技术迭 代、政策支持与消费需求的三重共振。 与此同时，记者了解到，车展也成为促销的主阵地。据统计，全国超过80个城市举办了近百场车展。在 乌鲁木齐国际汽车展览会上，购车可享受各大汽车厂商推出的各类购车优惠，叠加以旧换新补贴政策， 消费者可以享受到实实在在的优惠。广州车展上，比亚迪、广汽埃安、东风纳米等超30家新能源汽车品 牌参展，打出"国补+地补+厂家补贴+展商优惠"组合促销牌，其中报废补贴至高2万元、广州置换补贴 至高1.5万元。长春车展打造"车展+时尚秀场"多元场景，零跑、小鹏等新势力品牌推出"试驾送茶 具""订车送充电桩"等特色权益。 假期后的销量 ...

Core Viewpoint - Gotion High-Tech (002074) is actively managing its business operations in response to external challenges, such as tariffs and market dynamics, while focusing on strategic partnerships and technological advancements to enhance its market position. Group 1: Business Impact and Strategy - The impact of U.S. tariffs on the company's export business is limited due to the small proportion of U.S. business in total revenue, and the company is working on overseas production capacity to mitigate these effects [2] - The company has established a long-term strategic partnership with Chery Automobile, achieving over 40% battery supply for Chery's new energy passenger vehicles in 2024, with a focus on expanding into high-end platforms [3] - The company is enhancing its production capacity for mid-to-high-end vehicles, with a 15% increase in the shipment ratio for B-class and above models [4] Group 2: Product Development and Innovations - The company has launched a 5MWh energy storage liquid-cooled container with significant cycle life and longevity, contributing to approximately 35% of its energy storage shipments [5] - A modular battery swapping system has been developed, improving efficiency for electric heavy trucks, with successful collaborations on battery swapping vehicles across various models [6] - The company is expanding its production capacity to 28GWh based on customer demand and aims to enhance production efficiency [7] Group 3: Financial Performance - In Q1 2025, the company reported a revenue of 9.055 billion yuan, a year-on-year increase of 20.61%, and a net profit of 101 million yuan, up 45.55% [14] - The company has a debt ratio of 72.81% and a gross margin of 18.28%, indicating a stable financial position despite market fluctuations [14] Group 4: Market Trends and Future Outlook - The company is monitoring the lithium carbonate market, which has seen price declines, and is implementing cost-reduction strategies to maintain normal production levels [9] - Ongoing research and development in solid-state batteries have yielded promising results, with the successful development of a vehicle-grade solid-state battery [10] - The company is exploring new application scenarios in emerging industries such as low-altitude flight and electric ships, aiming for comprehensive breakthroughs from R&D to product application [11]

以下文章来源于妙投APP ，作者Eastland 妙投APP . 作者｜Eastland 头图｜视觉中国 虎嗅旗下二级市场投研服务品牌，为您提供精选上市公司价值拆解，热门赛道产业链梳理 2025年3月15日，宁德时代（ ZH：300750 ）披露了《2024年度报告》。报告显示，2024年营收3620亿、同比下降9.7%；扣非净利润450亿、同比增长 12.2%。 4月10日，港交所对宁德时代H股上市申请进行了聆讯（ 招股文件于2025年2月11日呈交 ）。 高增长期已结束 过往五年，宁德时代营收增长了620%： 2020年，营收增长9.9%，刚刚突破500亿元大关； 2021年，营收暴涨159%、至1303.5亿元； 2022年，营收增速保持在152%，达3285.9亿元； 2023年，营收突破4000亿，但增速回落至22%； 2024年，营收回落至3620亿，降幅达9.7%； 2025年Q1，营收847亿、同比增长6.2%。 毋庸讳言，宁德时代的高速增长期已经结束。 出货量保持领先 宁德时代主营电池系统，动力电池系统和储能系统在全球市场的份额多年保持第一： 2022年，电池系统出货289GWh、同比增长1 ...

证券代码：002074 证券简称：国轩高科 国轩高科股份有限公司 投资者关系活动记录表 编号：2025-001 投 资 者 关 系 活 动 类 别 □特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □一对一沟通 □券商策略会 ■其他__投资者电话交流会__ 参 与 单 位 名 称 及 人 员姓名 与会投资者约 380 人 时 间 2025 年 4 月 28 日 15:00-16:00 地 点 电话交流会 上 市 公 司 接待人员 董事会秘书：汪泉 财务负责人：张一飞 证券事务代表兼 IR 总监：徐国宏 公 司 基 本 情 况 及 核 心要点 报告期内，公司国内外市场稳健发展，不断推出创新产品及解决方 案，综合竞争力持续增强，业绩实现稳健增长。2024 年度，公司出货约 63 GWh，实现营业收入 353.92 亿，同比增长 11.98%；实现归母净利润 12.07 亿，同比上升 28.56%；实现扣非净利润 2.63 亿，同比增长 125.86%。 2025 年一季度，公司出货约 18 GWh，实现营业收入 90.55 亿，同 比增长 20.61%；实现归母净利润 ...

Core Viewpoint - CATL is strategically shifting its focus to battery swapping as a transformative opportunity in the electric vehicle industry, moving beyond just being a battery supplier [1][3][4]. Group 1: Strategic Moves - CATL launched two standardized battery swap modules in December 2024, intensifying its efforts in the battery swapping sector and attracting various partners [1]. - At the 2025 Shanghai International Auto Show, CATL announced three major initiatives related to its battery swapping business, including the release of 10 new chocolate battery swap models and the introduction of sodium battery technology [1][6]. Group 2: Consumer Demand and Market Dynamics - The battery swapping model offers significant advantages in energy replenishment efficiency and convenience, with a potential swap time of just 3 minutes, addressing the high time cost associated with charging [4]. - The adoption of battery swapping could lead to a shift from battery bundling with vehicle sales to a flexible battery leasing model, lowering the purchase threshold for consumers and mitigating depreciation risks associated with battery performance degradation [4]. - CATL's CEO predicts that by 2030, battery swapping will share the energy replenishment market equally with home charging and public charging stations [4]. Group 3: Industry Challenges and Solutions - Despite its potential, the battery swapping model faces challenges such as the lack of unified standards and specifications, limited operational ecosystems, and the need for a sustainable profit model [5]. - CATL's approach involves standardization and a phased strategy, initially targeting B-end scenarios like ride-hailing and taxi services to validate the business model before expanding to C-end markets [5][6]. Group 4: Expansion Plans and Collaborations - CATL aims to expand its battery swapping network significantly, with plans to build at least 1,000 swapping stations in 2025, covering over 30 cities [19]. - A recent partnership with Sinopec aims to establish at least 500 swapping stations this year, with a long-term goal of 10,000 stations, enhancing energy service efficiency for electric vehicle owners [11]. Group 5: Technological Integration and Future Outlook - The integration of standardized batteries and swapping stations is expected to accelerate the adoption of new technologies, improving the efficiency of technological iterations and large-scale applications [12]. - CATL's new sodium-ion battery, set to launch in December 2025, exemplifies how the standardized swapping system can facilitate faster market access for innovative technologies [13]. - The battery swapping model is positioned as a critical infrastructure for the future of autonomous driving, with collaborations with companies like Baidu to explore synergies between battery technology and autonomous vehicle development [16][19].

Core Insights - CATL has accelerated its battery swapping business, announcing a strategic partnership with GAC Group and unveiling 10 new chocolate battery swapping models at the 21st Shanghai International Auto Show [1] - The company aims to establish a comprehensive battery swapping network, with plans to build 1,000 stations in 30 cities by the end of the year [1] - CATL has also signed a framework agreement with Sinopec to develop a nationwide battery swapping ecosystem, targeting the construction of at least 500 stations this year, with a long-term goal of 10,000 stations [1][2] Group 1: Strategic Partnerships and Collaborations - CATL has formed a strategic partnership with the Ministry of Transport's Highway Science Research Institute to collaborate on battery swapping technology research and standard system development [2] - The company is working with NIO to create the world's largest battery swapping network and unify industry technology standards [1][2] - NIO has established partnerships with several automakers and energy companies to enhance its battery swapping capabilities [2] Group 2: Market Potential and Growth Projections - The battery swapping market in China is projected to reach 133.4 billion yuan by 2025, with significant growth in equipment, battery, and operational segments [3] - CATL's goal of building 1,000 battery swapping stations by 2025 could require an estimated investment of 20 billion yuan in equipment [3] - The compound annual growth rates for the battery swapping station equipment, power batteries, and operational segments from 2023 to 2025 are expected to be 70.7%, 94.5%, and 91%, respectively [3] Group 3: Industry Support and Policy Framework - The Chinese government is actively promoting the development of battery swapping infrastructure through various policies and plans, including the "New Energy Vehicle Industry Development Plan (2021-2035)" [2] - Multiple government departments have issued documents encouraging the establishment of battery swapping networks and standard systems [2]

即时零售爆发，换电模式重构配送能源生态 01 即时零售的繁荣重塑了城市末端物流的运作逻辑。当消费者能够在半小时内收到冰咖啡、退烧药乃至手机等商品，背后是配送骑手日均超百公里的高强度骑 行。 即时零售时代，消费者对"30分钟达"的极致时效追求，正驱动即时配送行业经历一场深刻的效率变革。 传统充电模式下，电动车续航不足导致的订单延误、收入损失等问题，催生了换电模式的刚需。换电企业通过标准化电池与网格化换电站布局，将补能时间 压缩至 1分钟以内，彻底改变了 "充电等待" 的低效场景。 目前，全国已有 300多家换电企业在一线及新一线城市商圈、社区等高频配送区域构建起密集的换电网络，并逐步向县域市场下沉。 这些分布在城市中的换 电柜，不仅成为骑手的"能量驿站"，更构成了即时配送网络的"新型基础设施"，共同支撑着日均破亿订单的高效运转 。 智能化方案，破解电池管理三大痛点 02 在换电模式的技术升级中，电池管理能力是核心竞争力。优旦科技针对行业普遍存在的电池寿命短、安全隐患大、运维效率低等问题，打造了"端云一体"锂 电池全生命周期智能管理方案，为换电运营注入智能基因。 即时零售驱动配送效率攀升 ，换电模式凭借 "即换即 ...

在宁德时代的设想中，零碳是未来比电动汽车大 10 倍的 十 万亿级市场。围绕零碳生态，宁德时代正在将加速构建相关产业链图谱，推动新 商业模式 探索 。 4 月至今，宁德时代敲定多个合作客户，加速推动从"零部件供应商"到"零碳生态链构建者"的转型。 4 月 18 日，宁德时代与金华市交通投资集团签署战略合作协议。双方将以加快实现产业零碳发展为总目标，围绕零碳陆港、新能源公交车、 物流仓储服务、重卡电动化及换电业务等方面的合作，共同构建零碳能源补给生态链。 4 月 18 日，中国贵州茅台酒厂（集团）有限责任公司与宁德时代新能源科技股份有限公司于贵州仁怀签署战略合作协议。 双方将通过共同打造具有前瞻性的数字工厂、零碳工厂样板，共同开发 "零碳 + "应用场景。同时，宁德时代与茅台集团将构建物流运输与乘 用车电动化场景，并积极探索光伏及储能技术在传统制造行业的应用，加速茅台集团绿色低碳目标的实现。 4 月 10 日，蚂蚁集团、哈啰与宁德时代正式签署战略合作协议。 三方将在绿色智能出行领域进行深度合作，包括智能驾驶、新能源出行综合服务平台建设、新能源电池后市场服务体系等方向，并将通过包括 成立合资公司在内的方式，共同推 ...

Core Viewpoint - The collaboration between CATL and the Ministry of Transport's Highway Research Institute marks a significant step in China's electric vehicle industry, particularly in the battery swapping sector, driven by both technological innovation and policy support [1][2][16] Group 1: Strategic Collaboration - The partnership focuses on multiple aspects including research on battery swapping technology, policy preparation, standard system construction, and scenario applications, aligning with the Ministry of Industry and Information Technology's guidance on promoting battery swapping models [1][2] - This collaboration aims to create an ecosystem for battery swapping technology, facilitating the integration of policy, innovation, and industry chains, thus forming a comprehensive cooperation platform [1][3] Group 2: Market Dynamics - The battery swapping model is seen as a crucial component of the energy revolution and transportation transformation, fostering a new industrial landscape that benefits multiple stakeholders [1][7] - The commercial vehicle sector, which currently has a low electrification rate compared to passenger vehicles, is identified as a key area for growth, with the need for effective solutions to accelerate the electrification of commercial vehicles [7][15] Group 3: Infrastructure Development - The collaboration will enhance the networked construction of infrastructure, including the development of a nationwide battery swapping facility layout plan to improve energy supply capabilities along major transport routes [3][4] - The goal is to establish at least 500 battery swapping stations this year, with a long-term target of expanding to 10,000 stations, which could unlock trillion-level industry opportunities [4][12] Group 4: Economic and Environmental Impact - The battery swapping network is expected to reconstruct the spatial relationship between energy and logistics, integrating renewable energy resources with logistics demands, thus contributing to energy security and carbon reduction [9][10] - The anticipated market size for China's battery swapping industry is projected to reach 133.4 billion yuan by 2025, with significant growth rates across various segments [12][14] Group 5: Competitive Advantage - CATL's battery swapping solutions are positioned to benefit from compliance premium and technical leadership, establishing a three-dimensional barrier that enhances its competitive edge in the market [5][15] - The standardization of battery swapping modules is expected to provide a new solution for the electrification of commercial vehicles, positioning CATL to capitalize on the emerging blue ocean market [15][16]

Core Viewpoint - The article emphasizes the Chinese government's strong commitment to the development of the new energy vehicle (NEV) industry, highlighting various policies and initiatives aimed at promoting high-quality growth in this sector [4][5][14]. Group 1: Government Policies and Initiatives - In 2024, the production of new energy vehicles reached over 13 million units, and the government plans to implement special actions to boost consumption, including a long-term special bond of 300 billion yuan to support the replacement of old consumer goods [4]. - Seven key policies were introduced in 2024 to promote NEVs, including trade-in incentives, government procurement requirements, tax exemptions, and pilot projects for electric public transport [4][5]. - The government has set a target for public sector vehicle electrification, with pilot programs in 15 cities, aiming to save over 1.4 million tons of fuel and reduce carbon emissions by 4.5 million tons annually [10]. Group 2: Financial Incentives for Consumers - New policies provide special incentives for consumers purchasing NEVs, including increased subsidies for replacing old public buses and personal vehicles, with subsidies reaching up to 8,000 yuan per bus and 2,000 yuan per passenger vehicle [6][8]. - The exemption of vehicle purchase tax for NEVs will continue through 2025, with a maximum exemption of 30,000 yuan per vehicle [8]. - The government has also introduced a differentiated subsidy scheme for scrapping old commercial vehicles, with subsidies varying based on vehicle type and emissions standards [7]. Group 3: Technological Development and Infrastructure - The article discusses the importance of developing smart connected vehicles, with recommendations for increased funding for core technology research and the establishment of a legal framework for autonomous driving [15]. - There is a focus on enhancing charging infrastructure, with suggestions for improving policies, technical standards, and planning for charging stations, especially in rural areas [16]. - The promotion of battery swapping models is highlighted as a solution to charging challenges, with calls for unified standards and increased policy support [17][18]. Group 4: Recycling and Sustainability - The government has approved an action plan to establish a comprehensive battery recycling system, addressing the growing need for efficient recycling as the number of retired batteries increases [19][20]. - Recommendations include creating specific regulations for battery recycling, enhancing market supervision, and promoting technological innovation in the recycling industry [20]. Group 5: Export and Consumption Policies - Suggestions for boosting NEV exports include enhancing technological innovation, building a common database for overseas markets, and improving export policies and service systems [21]. - The article advocates for a long-term mechanism to encourage automobile consumption, including reducing vehicle purchase tax rates and easing restrictions in purchase-limited cities [22].